Credit Card > Update page allows you to add a new credit card or edit an existing credit card. Enter in your level information according to your account structure. Enter the Account # and a Description for the credit card. You can then enter the Card Account # and select the Expiration Date. After you search for and select the Vendor the Update page displays two tabs: Users and Note.

It is recommended that you set up a different liability account for each credit card that you are using so that you have a way of tracking activity in the General Ledger for each credit card. Also, it is strongly suggested that you only enter the last four digits of the account number or some other number that does not reveal the credit card's account number.

You can search for levels and accounts by clicking the Search icon or by pressing the letter "S" when your cursor is in the field.

Use the filter at the top of the Account Search window to narrow down your selection.

In the Account Search window you can also specify the Account Type in a drop-down list. You can then double-click the item you want to select or click the item and click the Select button. Click the Close link to return to the Update page without making a selection.

How the Account # field is used to create Journals

The Account # field is a Payable Credit Card account that is used as a "wash" account in a similar manner as the Payables Account # specified in Company Information (if you are running on the Accrual Basis). If you are running on an Accrual Basis and processing Credit Card transactions, you have two "wash" accounts. Below is a chart that shows how the Payables and the Payables (CC) accounts are used to create your journal entries for both Cash and Accrual basis.

The Cash Basis creates two journal entries. The first, when Credit Card Transactions are posted. The expense accounts is debited and the Payable (CC) account is credited. The second journal is created when payments are processed. The Payables (CC) account is debited and the bank account is credited.

The Accrual Basis creates three journal entries. The first journal entry is created when Credit Card Transactions are posted. The Expense account is debited and the Payables (CC) account is credited. The next journal is created when posting transactions. The Payables (CC) account is debited and the Payables account is credited. And, finally when processing payments, a journal is created to Debit the Payables account and credit the Bank account.

Select the Credit Card Vendor by clicking the (not set) link or the Search icon. This displays the Vendor Search window. By default the search text for the Name field searches for last names and organizations. To search for first and last names enter your search in the "lastname, firstname" format. You can also search by City and State. Select the vendor that is associated with the credit card and click the Select button. Alternately, click the Close link to return to the previous page without selecting a vendor.

Search for just a first name by starting your search with a comma (e.g., ", James"). Display a complete list of vendors by searching for just a comma. Results default to Accounts Payable, select All Applications from the drop-down list to view all names.

Users Tab

For each credit card user in the grid the following columns display:

•User Name

•Active: This column contains a check if the user is active.

•Balance: This is a total of the User's unreconciled Credit Card Transactions (charges).

Click the Edit icon or double-click a user to editor click the Add New Credit Card Userlink. Click the Delete icon by a user in the grid to be prompted to delete that user. Select the User by clicking the (not set) link or the Search icon. This displays the Person Search page. By default the search text for the Name field searches for last names and organizations. To search for first and last names enter your search in the "lastname, firstname" format. You can also search by City and State. Select the credit card user and click the Select button. Alternately, click the Close link to return to the previous page without selecting a credit card user.

Search for just a first name by starting your search with a comma (e.g., ", James"). Display a complete list of individuals by searching for just a comma. Results default to Accounts Payable, select All Applications from the drop-down list to view all names.

Select if the user is Active and click the Apply button to save changes to that user and start adding another user (this option only shows when adding new users), the OK (or Update) button to save changes to that user, or the Close link to return to the Update page without saving changes.

Note Tab

Enter a note associated with the credit card if applicable.

When finished click the Update button to save your changes and return to the Credit Card page, the Reset link to undo all changes since the last time the page was updated, or the Cancel link to discard all changes and return to the Credit Card page.